Import Duty Exemption Grants to Multi-nationals Killing Nigeria’s Economy-Tanko
…As He urges NCS to Use Alternative Area Code to Zero duty payment
The National Co-ordinator of 100% Compliance Team of the National Association of Government Approved Freight Forwarders, (NAGAFF), Hon. Alhaji Ibrahim Tanko has appeal to Federal Government (FG) as a matter of urgency to revisit import duty exemption granted to Multi-nationals companies in which some fraudulent Nigerians are using the medium to short change FG and has resulted to 6-7% revenue dropped.
Speaking at a world class press briefing today which took place at the headquarters of 100% Compliance Team in Apapa, Lagos, Tanko passionately pleaded with Nigerian Customs Service (NCS) to use the alternative area code to zero duty payment pending when Central Bank of Nigeria (CBN) will revoke the suspension of First Bank of Nigeria Plc from collecting duty.
Tanko who spoke on behalf of Frieght Forwarders and Shippers whose goods have been trapped at various ports across Nigerian said “the Compliance Finance Intelligence Unit did their investigation and calculations recently discover that NCS revenue has dropped by about 6-7%”.
According to this Veteran’s Frieght Forwarder, while highlighting some of the reasons which lead to dropped in the revenue, he said “first bank non-duty collection as a result of them being sanctioned by Central Bank of Nigeria (CBN) for non remittance to Federal Government account”.
“The impending change in government that’s waiting for the outcome of May 29th. importers are afraid of bringing in goods, not sure of the new administration policies. ‘
While some Importers are afraid of making declarations for containers already on ground”.
“The import duty exemption or waivers granted to multi-nationals companies and FG neglecting local industries in Nigeria”.
In the Same vain, Tanko suggest to Controller General of Customs to reintroduce constant training for Frieght Forwarders “we appeal to the CGC to assist in the training of young freight forwarders. This is to enable them to fully understand customs process and operations, turning them into bonafide professionals”.